By Chris Wack
Bitfarms Ltd. said that as of July 12, using green hydroelectricity, it has mined 1,357 Bitcoin in the first six months of 2021, the largest number of Bitcoin mined in North America as reported by publicly traded miners.
The company said it has deposited 1,445 Bitcoin into custody through July 12, representing more than 95% of its Bitcoin production this year.
Bitfarms said it has mined 265 new Bitcoin during June, its largest monthly production rate achieved in 2021 and approximately one-third more than Bitfarms' mining production in January 2021.
Bitfarms has mined 265 Bitcoin in June, and 158 Bitcoin during the period of July 1 to July 12th.
The company said that on July 3, its Bitcoin network experienced its largest difficulty drop in history due to recent macro developments in China. This has resulted in Bitfarms producing significantly higher quantities of Bitcoin at a lower cost per Bitcoin produced.
Bitfarms shares were up 8%, to $3.78, in premarket trading.
Write to Chris Wack at firstname.lastname@example.org
(END) Dow Jones Newswires